A brand new Toyota Camry sits on the sales lot at City Toyota in Daly City, Calif., in this 2010 file photo. / Justin Sullivan / Getty Images

Written by

Chris Woodyard

USA TODAY

Toyota has passed BMW in a ranking of the world's most valuable brands.

The list was put together by a keeper of such scores called Brandz.

But it's no time for celebration if you're in the auto industry. Auto brands lag far behind other sectors, especially technology, on the Brandz Top 100 list. For instance, the top three places on the list belong to tech companies -- Apple, Google and IBM. How auto brands fared:

» Toyota ranks 23rd on the list with an estimated brand value of $24.5 billion. Toyota's value rose 12% last year, the study find and it moved up five notches. It's a sign that the brand has recovered from some huge setbacks, like its quality fiasco amid questions about unintended acceleration a couple of years ago.» BMW was right behind in 24th place, with $24 billon in value, which declined by 2% in the past year. It fell one place on the list.» Mercedes-Benz is ranked 43rd, its value up 11% with $18 billion in value and three places higher on the list. » Honda is 71st, down 2% with $12.4 billion in value and down a whopping six places on the list.» Nissan is No. 86, with $10.2 billion in value, up 3% in value and off by five places over last year.» Volkswagen squeaks in at 100th place. The brand is valued at $8.7 billion, up 3%. but it still feel four places.